Janet Yellen Predicts U.S. Economy's Soft Landing

U.S. Treasury Secretary Janet Yellen announced that the labor market and inflation data indicate a potential soft landing for the U.S. economy. However, achieving this goal depends on reducing housing costs. Federal Reserve officials suggest that interest rates will move toward a neutral policy stance.

U.S. Treasury Secretary Janet Yellen stated on Thursday that current labor market and inflation data signal a soft landing for the U.S. economy.

In an interview with CNBC, Yellen emphasized that the final challenge in reducing inflation is lowering housing costs.

She noted that Federal Reserve officials expect interest rates to decline, reaching a neutral policy stance.

(With inputs from agencies.)